Here’s my favorite part of this story: that headline, while somewhat misleading, is 100% not a joke. From The Hollywood Reporter:

Magical Elves, the powerhouse producing duo of Dan Cutforth and Jane Lipsitz behind some of the biggest reality and non-scripted TV, is in negotiations to direct Paramount’s Katy Perry movie. [...]

The Perry movie will be a 3D concert-documentary movie hybrid that will aim to show Perry’s life on-stage and off-stage and give a fan’s perspective on the pop singer.

Wow, a 3D concert movie about a pop star? Sounds like a pretty big risk. The people in charge would really look like *boobs* if this fails. I mean, they’re dipping into the war *chest* to spring for 3D, and for what? I can’t think of a single reason a documentary about Katy Perry would require it. Beyond the financial risks, there’s also the physical effects 3D can have on the viewer, namely dizziness and loss of appetite. My prediction is that this movie will go ***bust***, and the Magical Elves will suffer a dramatic fall from grace. I hope they saved their money, or they’ll be stuck buying clothes off the ***RACK***, or maybe even living on the street and peeing into ***JUGS***.

I will be sure to keep you abreast of further news as it develops.